Apartment Complex in Chic Denver Community to Undergo $65M Expansion
- Sep 11, 2008
The Seasons of Cherry Creek, a 439-unit luxury apartment property in Denver’s tony Cherry Creek neighborhood, is about to experience a growth spurt. RedPeak Properties, which acquired the multi-family asset for $75 million in 2005, just broke ground on a $65 million expansion project that will add 148 residences to the complex.Located at 3329 E. Bayaud Ave. about two blocks from the Cherry Creek Mall, Seasons’ existing 15-story tower and nine-story structure will be augmented by a new 13-story high-rise that will be part of Built Green Colorado’s multi-family pilot program. As part of the program, the new structure will incorporate green standards resulting in increased energy efficiency that is 15 percent above code. The development is a major endeavor for RedPeak, as Seasons is the first rental multi-family project to be admitted to the program, and it is the seven-year-old company’s first ground-up development. Bradburn Architects has been tapped to handle the design of the new residential tower and Saunders Construction is the general contractor on the project. RedPeak plans to begin leasing activity in early 2010. Denver-based RedPeak develops, redevelops, owns and operates apartment properties throughout Denver and Colorado’s Front Range. Currently, the company’s portfolio encompasses 2,054 residences.